Ayala Land Inc.’s (ALI) board of
director recently approved the issuance of the fifth series of the company’s
homestarter bond with an issue size of up to P3 billion, which will be sold
through a general public offering to retail investors.

In a disclosure to Philippine Stock
Exchange, ALI said that the issuance will be subject to the registration
requirements of the Securities and Exchange Commission.

“The bonds will be priced at 100
percent of face value and will mature three years from initial issue date,”
said the disclosure.

ALI added that the proceeds, net of
issue related expenses, will be used to fund the company’s general corporate
purposes.

The listed real estate firm,
meanwhile, has declared a cash dividend of P0.10 per outstanding common share,
which reflects a 42 percent increase from last year’s regular cash dividend of
P0.07 per share. That will bring the company’s dividend payout to 40 percent of
prior year’s earnings.

Also, the company made the approval of
the strategic alliance that they entered into several months ago with the group
led by Ignacio Ortigas, allowing them to participate in OCLP Holdings Inc.

In June, ALI entered into a strategic
alliance with the group led by Ignacio Ortigas to participate in OCLP Holdings,
and allocated P15 billion to the development of its various properties and
businesses.

ALI said that the alliance with OCLP
Holdings, the parent company of Ortigas and Company Ltd. Partnership, was an
invitation that came from Ortigas and this is in line with ALI’s plan to
expand.